3624-29th Street Sale

Retail-Commercial for Sale
Catylist Listing ID: 30101972
Property Subtypes: Street Retail, General
Building Size (RSF): 8,000 SF
Gross Land Area: 0.70 Acres
Sale Price: $695,000
Unit Price: $86.88 PSF
Ceiling: 10 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Usable Size (USF): 8,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/4/2017

Overview / Comments

The SVN Colvin Team/SVN Silveri Co presents this well-located investment property on busy 29th ST in Kentwood. Located between E. Paris and Broadmoor, this building has been home to Wind Waves and Wheels for 20 years. The middle suite is "29th Street Suites" a freshly remodeled shared business suites center. The south end is leased has been leased to Micro Logic for many years. The property currently generates approximately $55,000 in net income. If an owner/user took the front 2500 SF for their business, they would have substantial income from the other 2 tenants to off-set their costs. For detailed income and expense info and a rent roll, please contact Peter Colvin at peter.colvin@svn.com or 616-893-1398.

Current Tenants

Tenant Business Name Wind Waves and Wheels
SF of Space Occupied 2,500 SF
Tenant Business Name 29th Street Suites
SF of Space Occupied 3,500 SF
Tenant Business Name MicroLogic
SF of Space Occupied 2,000 SF

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: 28th Street Southeast
Taxing Authority: Kentwood
Tax ID/APN: 41-18-14-251-012
Zoning: C1
Property Located Between: E. Paris and Broadmoor
Area Description: DIRECTIONS: I-196 E becomes I-96 E. Merge onto 28TH ST SE/MI-11 via EXIT 43A. Turn LEFT onto LAKE EASTBROOK BLVD SE. Turn RIGHT onto 29TH ST SE, to property.
Tenancy: Multiple Tenants
Number of Stories: 1
Construction/Siding: Brick
Legal Description: LOT 22 * AMENDED PLAT OF LOT 22 & OUTLOT A 29TH STREET COMMERCIAL PARK

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,191 72,544 213,561
Median Age: 41.86 36.91 34.12
Households: 3,859 29,138 82,058

Contact

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